Buying something new after saving for it can feel great – but what can it feel like if you slip into debt?
The Money Advice Service is set up by government and offers free and impartial advice, tips and budget planners for all life’s money matters. We’re here to help you make better financial decisions.
Ashley: When you get something new, how does that feel?
Kevin: It feels good because I’ve got something new but the other side of it is I have no money anymore for something a bit more practical like books for study.
Jamila: When I bought my phone I was so happy, I loved it. I went to school the next day and I was like, “Look what I’ve got”.
Alex. D: I really needed a new bike. By having the money available it’s brilliant because I can spend it on a quality bike.
Emma: Did you save for the bike?
Alex. D: No, I saved for something else actually and then I bought the bike because I had the money there. It was a great feeling.
Robyn: I got promoted to supervisor and we had a pink laminate floor from the person before who lived there so I was able to get the floor done.
Catherine: Yesterday I actually bought my laptop, my new laptop. It took me quite a while to save so it feels good.
Emma: Have you had a time where you’ve bought something and it felt great afterwards?
Vusa: It was when I was quite young, I was about 10 years old. The money allowance from my parents led to me being able to buy a video player. I remember just jumping up and down with my dad, it was just a really good feeling.
Jodie: I feel really excited that I’ve bought something but at the same time I feel bad because then I have no money left.
Ashley: Would you be able to tell us about a big low that you’ve had when it comes to money?
Robyn: I started teaching so now I’m self-employed and I also work full time in a jewellers. One day I had a letter to say that I underpaid my tax by almost £1,000 and I literally just sat and cried.
Gareth: I’ve had to pay a deposit once and I’ve not had the money on time so I felt scared running into more debt.
Alex: My first year I was very nonchalant, throwing money away on music and when the first lot of bills hit that really gave me a slap across the face.
Tiernan: The next thing I suppose is university which I’m dreading trying to find the money for it, getting loans and all, it’s just very daunting.